Globus Medical, Inc. (NYSE:GMED) Shares Acquired by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,194 shares of the medical device company’s stock after buying an additional 13,943 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Globus Medical were worth $3,314,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Duality Advisers LP grew its position in shares of Globus Medical by 87.0% during the fourth quarter. Duality Advisers LP now owns 14,291 shares of the medical device company’s stock worth $762,000 after buying an additional 6,650 shares in the last quarter. Greenleaf Trust acquired a new position in Globus Medical in the fourth quarter valued at approximately $248,000. Knights of Columbus Asset Advisors LLC boosted its holdings in Globus Medical by 96.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 85,107 shares of the medical device company’s stock valued at $4,535,000 after purchasing an additional 41,887 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Globus Medical by 25.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,179 shares of the medical device company’s stock valued at $1,608,000 after purchasing an additional 6,186 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Globus Medical in the fourth quarter valued at approximately $1,727,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GMED. BTIG Research raised Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, March 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a report on Thursday, January 11th. Stifel Nicolaus upped their price target on Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Truist Financial upped their price target on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

Globus Medical Stock Performance

NYSE GMED traded down $1.09 on Thursday, reaching $50.35. The stock had a trading volume of 613,282 shares, compared to its average volume of 1,123,952. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $62.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 4.88. The business’s 50-day moving average price is $53.06 and its 200 day moving average price is $51.35. The stock has a market cap of $6.82 billion, a P/E ratio of 43.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The business had revenue of $616.53 million during the quarter, compared to analysts’ expectations of $608.21 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s quarterly revenue was up 124.6% compared to the same quarter last year. As a group, equities analysts expect that Globus Medical, Inc. will post 2.69 earnings per share for the current year.

Insider Transactions at Globus Medical

In other news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the completion of the sale, the director now owns 17,419 shares in the company, valued at $905,613.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 24.30% of the company’s stock.

Globus Medical Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.